LONDON, Aug 16 (Reuters) - Investors stampeded into investment-grade and government bond funds, giving fixed income the fourth largest weekly inflows ever, Bank of America Merrill Lynch said on Friday, as investors sought safety from the risk of a global recession.
A total of $16 billion flowed into bond funds in the week to Wednesday, said BAML citing EPFR data. Investment-grade bonds sucked in $10.7 billion, the fifth largest week of inflows to the asset class, while government bonds sucked in $4.7 billion.
Equity funds suffered modest outflows of $4.7 billion during the week, the data showed. (Reporting by Tom Arnold; Editing by Alison Williams)